TeraWulf (NASDAQ:WULF) Shares Gap Up – Still a Buy?

Shares of TeraWulf Inc. (NASDAQ:WULF) gapped up prior to trading on Friday . The stock had previously closed at $5.15, but opened at $5.36. TeraWulf shares last traded at $5.36, with a volume of 8,175,646 shares.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Needham & Company LLC reissued a “buy” rating and issued a $9.50 target price on shares of TeraWulf in a report on Monday, January 13th. Atb Cap Markets upgraded shares of TeraWulf to a “strong-buy” rating in a research report on Sunday, January 5th. Keefe, Bruyette & Woods assumed coverage on shares of TeraWulf in a research report on Wednesday, January 8th. They set a “market perform” rating for the company. Stifel Canada downgraded shares of TeraWulf from a “strong-buy” rating to a “moderate buy” rating in a report on Tuesday, October 29th. Finally, Northland Securities restated an “outperform” rating and issued a $10.00 price target on shares of TeraWulf in a research note on Tuesday, December 24th. One investment analyst has rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, TeraWulf presently has a consensus rating of “Buy” and an average price target of $8.64.

TeraWulf Price Performance

The firm has a 50 day moving average price of $6.21 and a two-hundred day moving average price of $5.53.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. lifted its stake in TeraWulf by 258.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,363,951 shares of the company’s stock valued at $11,063,000 after acquiring an additional 1,704,013 shares in the last quarter. State Street Corp raised its stake in TeraWulf by 3.8% in the 3rd quarter. State Street Corp now owns 6,283,196 shares of the company’s stock valued at $29,405,000 after acquiring an additional 227,186 shares during the period. Intech Investment Management LLC purchased a new position in TeraWulf in the 3rd quarter valued at approximately $340,000. GoalVest Advisory LLC purchased a new stake in TeraWulf during the 4th quarter worth about $651,000. Finally, Barclays PLC boosted its holdings in TeraWulf by 419.7% in the 3rd quarter. Barclays PLC now owns 424,748 shares of the company’s stock valued at $1,989,000 after purchasing an additional 343,016 shares during the period. Institutional investors own 62.49% of the company’s stock.

TeraWulf Company Profile

TeraWulf Inc, together with its subsidiaries, operates as a digital asset technology company in the United States. The company develops, owns, and operates bitcoin mining facilities in New York and Pennsylvania. It is also involved in the provision of miner hosting services to third-party entities. The company was founded in 2021 and is headquartered in Easton, Maryland.